LAHORE - The Lahore Chamber of Commerce & Industry has urged the export-oriented industry to discover new destinations for their merchandise as current export statistics do not match the huge potential of Pakistan.

In a statement issued here, LCCI President Sheikh Muhammad Arshadw and Vice President Nasir Saeed said that young entrepreneurs have to come forward and demonstrate their abilities to give a jumpstart to the exports.

LCCI office-bearers urged the businessmen to work under a well-thought out export strategy based on products marketing. He said that value addition was one of the best tools to earn huge foreign exchange and this target could be achieved through investment in technology, skill enhancment and research and development.

They said that we should focus on trade with the regional countries that was more efficient in terms of cost and logistics. They said that Pakistan occupies a strategic location and has ability to act as a major player in transforming the region into a trade and manufacturing hub.

They said that the promotion of regional trade also offers promising benefits to the industry as it would enable it to source raw materials from the region that would ultimately reduce cost of production and create opportunities to improve economy of scales by having easy access to neighbouring markets on the other hand.

The LCCI office-bearers said, “Pakistan has lost momentum but it has ability to bounce back as it has over 50 per cent of young population, 12 per cent of known global natural resources, and all prerequisites to become a developed nation.

They stressed the need for trust building between employers & employees and business entities. He also urged the Pakistan businessmen to highlight soft image of the country to get their due share in the international market.

The LCCI office-bearers said that government should also take measures to create awareness about significance of exports for national economy, governing the rules & regulations, methods of settlement in international trade, export documentation and procedures, SBP regulations for export, export re-financing schemes, international trade & transport, land, air and sea transportation, obtaining NTN etc.